© Dukascopy Bank SA
"We expect the Kiwi to average 94 cents against the Australian dollar this year and to remain above 80 cents against the US all year. Of course that's a serious headwind for those parts of our export sector that aren't enjoying high global prices."
- Westpac (based on Radio NZ)
Pair's Outlook
Pair resumed a rally which started last week and tested monthly R1 today. However, it failed to consolidate above it and at the moment is hovering slightly below. Looking at the short technicals we come under the impression we should expect some further bearishness, but 20, 55 and 100-day SMA's should provide strong enough impetus for the pair to advance further on.
Traders' Sentiment
There is almost no change in market sentiment, 74% of trader shot on the pair. However, we saw a drastic, 80 to 40%, decrease in bullish side of pending orders which at the moment account for no more than 21% of all of the pending orders in various ranges
© Dukascopy Bank SA